Pensions in Mexico: Difference between revisions
Brief introduction to the AFORE-SIEFORE Mexican Pension System |
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Mexico reformed its pension system in 1997, transforming it form a pay as you go (PAYG), defined benefit (DB) scheme to a fully funded, private and mandatory defined contribution (DC) scheme. the reform was modeled after the pension reforms in Chile in the early 1980s and was a result of recommendations from the World Bank. Participants in the Mexican system choose from a variety of private pension fund managers called Administradores de Fondos para el Retiro (AFOREs). AFOREs are responsible for managing inidividual accounts and investing savings in the pension funds called Sociedades de Inversion Especializadas pare el Retiro (SIEFOREs). SIEFOREs are separate legal entities with their own Board of Directors, and segregated assets from AFOREs. |
Mexico reformed its pension system in 1997, transforming it form a pay as you go (PAYG), defined benefit (DB) scheme to a fully funded, private and mandatory defined contribution (DC) scheme. the reform was modeled after the pension reforms in Chile in the early 1980s and was a result of recommendations from the World Bank. Participants in the Mexican system choose from a variety of private pension fund managers called Administradores de Fondos para el Retiro (AFOREs). AFOREs are responsible for managing inidividual accounts and investing savings in the pension funds called Sociedades de Inversion Especializadas pare el Retiro (SIEFOREs). SIEFOREs are separate legal entities with their own Board of Directors, and segregated assets from AFOREs. |
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Revision as of 16:31, 25 February 2010
 | This article is written like a personal reflection, personal essay, or argumentative essay that states a Wikipedia editor's personal feelings or presents an original argument about a topic. (February 2010) |
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Mexico reformed its pension system in 1997, transforming it form a pay as you go (PAYG), defined benefit (DB) scheme to a fully funded, private and mandatory defined contribution (DC) scheme. the reform was modeled after the pension reforms in Chile in the early 1980s and was a result of recommendations from the World Bank. Participants in the Mexican system choose from a variety of private pension fund managers called Administradores de Fondos para el Retiro (AFOREs). AFOREs are responsible for managing inidividual accounts and investing savings in the pension funds called Sociedades de Inversion Especializadas pare el Retiro (SIEFOREs). SIEFOREs are separate legal entities with their own Board of Directors, and segregated assets from AFOREs.